Imported Styrene Monomer in Kandla

Styrene Monomer prices strengthened across Asia despite weak crude trends, with Indian bulk imports priced at ₹82/kg. Domestic Styrene Copolymer markets remained subdued in April, but demand is expected to rebound from June. Upstream benzene prices firmed up, while traders anticipate steady price hikes due to seasonal demand and tighter supply.

Styrene Monomer prices showed minimal fluctuations due to weak buying trends. Rising benzene costs have increased production expenses, squeezing profit margins. Demand remains sluggish, particularly in EPS and 3S sectors. Meanwhile, supply remains stable despite maintenance activities. Market expectations indicate continued price consolidation, influenced by crude oil trends and benzene movements.

Polystyrene prices increased in January, driven by strong export demand, restocking, and higher benzene costs. Prices later stabilized despite fluctuations in feedstock ethylene and styrene. Supply tightened due to reduced imports and limited production expansions. While cost pressures persist, steady demand from packaging and construction supports a stable market outlook.

The styrene market shows mixed trends, balancing adequate supply and moderate demand. Prices rose marginally in China to 8,550 Yuan/MT. Imported styrene at Kandla is priced at ₹95.5/kg. Despite seasonal stocking, increasing inventories weigh on market momentum. Near-term fluctuations are expected, influenced by supply pressures and cautious demand recovery.

Toluene prices rose by ₹0.5/kg in India, tracking a crude oil spike. However, downstream demand remains weak, with traders cautious due to OPEC+’s planned output hike. Tight refinery margins and low bulk demand signal potential for a price correction. Short-term sentiment is bearish; buyers should monitor feedstock trends closely.

Indian methanol prices dropped ₹0.50/kg despite limited inventories and early-month demand. Weak downstream consumption and low-cost Iranian cargoes drove the correction. However, rising Asian benchmarks and firming crude may soon reverse the trend. Buyers are advised to stock up as demand from formaldehyde and pharma may strengthen in June.

The Indian Pyridine market showed a mixed trend this week. While 2-Picoline prices remained supported by seasonal agrochemical demand, 3-Picoline saw price weakness due to subdued Niacinamide consumption. Jubilant Life Sciences ramped up Niacinamide output, potentially increasing supply. Overall sentiment remains cautious, with selective downstream sectors driving demand.

Vinyl Acetate Monomer (VAM) prices in India declined by ₹1/kg due to weak demand from paints and adhesives sectors. While April saw tight supply, upcoming shipments and Celanese’s plant restart are expected to ease concerns. Market participants anticipate further price corrections as demand slows and importers hold off on fresh buys.

Toluene prices in the domestic Indian market saw a downward revision of ₹1/kg, as importers adjusted rates amid falling crude benchmarks and sluggish downstream demand. Bulk deals from importers were quoted at ₹64.50++ per kg (ex-Kandla) and ₹65.50++ per kg (ex-Mumbai) for 60-day payment terms. Meanwhile, trader offers were reported at ₹66++ per kg (ex-Mumbai) and ₹65.75++ per kg (ex-Kandla) under similar credit terms.